XN000022-1987-03-19 — Page 18

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THURSDAY, MARCH 19, 1987

HE URGED THAT GREAT CARE MUST BE TAKEN BY THE GOVERNMENT BEFORE DECIDING ON ANY MOVE TO BROADEN THE INDIRECT TAX BASE.

MR CHEUNG ALSO SAID THAT AS HONG KONG NOW HAD A HANDSOME AMOUNT OF SURPLUS AND A MORE ROBUST ECONOMIC GROWTH, IT WAS HIGH TIME FOR THE GOVERNMENT TO SPEND MORE IN BUILDING A STRONGER INFRASTRUCTURE.

HE SAID HE WAS SURE THAT THE GOVERNMENT'S STRATEGY TO ALLOCATE SUFFICIENT DEVELOPMENT FUNDS FOR THE VAST AREA OF THE NEW TERRITORIES WOULD MEET THE GROWING EXPECTATION OF THE POPULATION THERE.

+ANY ATTEMPT TO SHIFT THE DIRECTION OF DEVELOPMENT WILL CERTAINLY CALL INTO QUESTION THE GOVERNMENT'S DETERMINATION ON LONG-TERM DEVELOPMENT OF HONG KONG AT A TIME OF CRUCIAL CHANGES, HE SAID.

CALL TO AIM FOR STABLE ECONOMIC ENVIRONMENT *****

THE HON POON CHI-FAI TODAY (THURSDAY) ASKED HONG KONG PEOPLE NOT TO FEEL OVERJOYED BECAUSE OF THE TEMPORARY SPAN OF ECONOMIC PROSPERITY.

HE SAID HONG KONG SHOULD DEDICATE ITS EFFORTS TO STRIVE FOR A STABLE ECONOMIC ENVIRONMENT WITH LONG-TERM GROWTH.

SPEAKING DURING THE BUDGET DEBATE IN THE LEGISLATIVE COUNCIL, MR POON SAID SOCIAL STABILITY AND PROSPERITY WAS A PREREQUISITE FOR CREATING WEALTH AND RESOURCES. HOWEVER, HE WARNED THAT IN THE COURSE OF CONSTITUTIONAL REFORM, ONE MUST BE PRAGMATIC AND DEVELOP STEP BY STEP, SO THAT HONG KONG'S STABILITY AND PROSPERITY WOULD NOT BE AFFECTED.

HE ADDED THAT THE REINFORCEMENT OF MANPOWER TRAINING, THE INTRODUCTION OF NEW TECHNOLOGY, THE PROVISION OF ATTRACTIVE CONDITIONS FOR INDUSTRIAL-COMMERCIAL DEVELOPMENT, THE PREVENTION OF EXCESSIVE SPECULATION ACTIVITIES, RESTRAINT ON THE GROWTH OF PUBLIC EXPENDITURE AND MINIMISATION OF UNNECESSARY WASTAGE WERE ALL IMPORTANT FACTORS WHICH WOULD BENEFIT THE ECONOMIC DEVELOPMENT OF HONG KONG.

TURNING TO THE BUDGET ITSELF, MR POON TOUCHED ON THE SUBJECT OF ROAD TOLLS.

/HE SAID